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BofA extends ‘guaranteed rate’ window to a year

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BofA extends ‘guaranteed rate’ window to a year – FX Markets

FX Markets

US bank holds spot FX rates for longer period to give alternative hedging tools to smaller clients

Foreign exchange trading

Bank of America has begun offering commercial banking clients a locked-in foreign exchange spot rate to transact against for a year, as banks look to increasingly offer the product to smaller clients that don’t want to trade derivatives.

The product sees a dealer offer a fixed exchange rate that a client can hit at any time over a given period, as a way for clients to effectively hedge their FX exposures without needing internal systems or contracts to deal with derivatives transactions. A number

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Read More: BofA extends ‘guaranteed rate’ window to a year

2024-07-09 12:40:14

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